As per the latest report published by Market Research Future (MRFR), the global airport information system market is expected to reach a valuation in excess of USD 5,700 Mn by the year 2023, reflecting a CAGR of 7.27% during the forecast period.
The growing importance of harnessing real-time information is driving the popularity of flight information display systems (FIDS). Increased investment in the aviation sector in fast-developing countries such as China, India, Mexico among others is creating new growth avenues for market players. Rapid infrastructure development coupled with the exponential growth in passenger volume in these countries is reflecting favorably on the global airport information systems market. In advanced economies, the focus has shifted towards promoting innovation in the aviation sector, which is also propelling the market growth.
Modernization of airports to accommodate the evolving operational requirements is necessitating the adoption of cutting-edge airport information systems. However, these systems remain susceptible to cyber threats, which continues to undermine their market potential.
Global Airport Information Systems Market: Segmental Analysis
The segmental analysis of the market is conducted on the basis of systems, type, and platform and region.
By systems, the market has been segmented into airport operation control centre (AOCC) and departure control system (DCS). The AOCC segment is further sub-segment into cargo handling, resource management, flight dispatch and others. The DCS segment is further sub-segmented into flight information display system, passenger check-in & boarding, and weather monitoring system. In 2017, the AOCC segment was valued at USD 2,467.1 M and is expected to witness an impressive growth in 2019 and beyond. Increased efforts to modernize airports is supporting the adoption of AOCC. By type, the market has been segmented into passenger system and non-passenger system. In terms of revenue, close to two-third share of the market was represented by the passenger system segment in 2017. In addition, the segment is poised to grow at 7.63% CAGR during the forecast period. This is primarily owing to the growing application of passenger system in airport check-in process. Integration of these systems allow a faster check-in process and a smoother boarding process. By platform, the market has been segmented into non-aeronautical systems and aeronautical systems. The aeronautical systems segment commanded the largest market share in 2017 and is projected to exhibit 7.75% CAGR between 2018 and 2023. The segment is likely to retain its top position over 2023. Rapid adoption of information systems in airports is driving the growth of the segment.
Global Airport Information Systems Market: Regional Outlook
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America and the Middle East & Africa (MEA). North America holds significant market potential for airport information systems. North America currently holds a considerable share of the global airport information systems market. 2018 was a high-growth year for the U.S aviation sector, with a healthy uptick in passenger volume. Making airports more efficient and safer remains a key area of focus for the U.S. aviation sector. Such factors are expected to support the growth of the market in North America during the forecast period. In addition, increased investment in airport modernization in countries such as Mexico and Canada creating market opportunities in North America. Asia Pacific is expected to be the second largest market for airport information systems. In 2017, the market in APAC was valued at USD 1,066.8 Mn and expected to witness the highest CAGR during the forecast period.
Global Airport Information Systems Market: Competitive Landscape
Companies profiled in the report include SITA, Thales Group, Amadeus IT Group SA, Siemens AS, Collins Aerospace, Gentrack, Inform GmbH, Resa Airport Data Systems, Ikusi, and IBM.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/airport-information-systems-market-7677